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The differences between business development managers and relationship managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 8-10 years to become a business development manager, becoming a relationship manager takes usually requires 6-8 years. Additionally, a business development manager has an average salary of $100,769, which is higher than the $83,761 average annual salary of a relationship manager.
The top three skills for a business development manager include customer service, CRM and healthcare. The most important skills for a relationship manager are client relationships, work ethic, and strong work ethic.
| Business Development Manager | Relationship Manager | |
| Yearly salary | $100,769 | $83,761 |
| Hourly rate | $48.45 | $40.27 |
| Growth rate | 10% | 5% |
| Number of jobs | 215,309 | 72,920 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 69% |
| Average age | 39 | 46 |
| Years of experience | 10 | 8 |
A business development manager's duties include identifying business opportunities, developing effective models and strategies to improve business performance, searching for potential clients to generate income and attract partnerships. A business development manager must have extensive knowledge of the market trends and adjust strategies as needed to meet the needs of the client. Excellent communication, decision-making, critical thinking, and leadership skills are just some of the key factors that business development managers should possess to communicate and negotiate with the clients.
A relationship manager is responsible for maintaining a positive and professional relationship with customers and business partners, ensuring the highest customer satisfaction and good reputation. Relationship managers advise management on identifying business opportunities by analyzing the current market trends that would help generate revenues and increase its profitability. They connect with the marketing and sales team for product and services innovation, create compelling sales pitches, and develop customer service processes to assist customers with their inquiries and concerns efficiently.
Business development managers and relationship managers have different pay scales, as shown below.
| Business Development Manager | Relationship Manager | |
| Average salary | $100,769 | $83,761 |
| Salary range | Between $67,000 And $151,000 | Between $56,000 And $123,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | New York |
| Best paying company | Shearman & Sterling | |
| Best paying industry | Finance | Finance |
There are a few differences between a business development manager and a relationship manager in terms of educational background:
| Business Development Manager | Relationship Manager | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Southern California |
Here are the differences between business development managers' and relationship managers' demographics:
| Business Development Manager | Relationship Manager | |
| Average age | 39 | 46 |
| Gender ratio | Male, 68.6% Female, 31.4% | Male, 53.5% Female, 46.5% |
| Race ratio | Black or African American, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% | Black or African American, 3.2% Unknown, 4.4% Hispanic or Latino, 9.8% Asian, 4.1% White, 78.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 7% |